Monday, October 28, 2013

E-Mini NG Gap Fill fade long


 ES and NQ 5 Minute Chart
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E-Mini: NQ
Long or Short: Long
Entry Point: 3373
Stop: 3368.50
Exit Goal: 3383
Result: Even
Notes: Waited for ES to trade near the PP support,  and the minor support on the NQ. I wanted to see the indexes work as one. Took the trade in the NQ as it was stronger per market. ES would have been the better trade and hit the target. Took the NQ and was stopped out at entry. That is trading

* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.







 

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I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE